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Nov 27, 2012
11/12
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hike with fiscal cliff, president obamaments tax hikes on those making more than $2 theft thousand a year, that will affect their middle class that their job creat creators the nor be able to pay them. neil: the train has left that spending station. i should say that taxes will go up. leaving that aside. how do you make the argument that a deal by the end of the year, even if it is bad, is better than no deal, if ratings agents pounce on a crafty deal, let's say waded toward tax hikes not addressinggspending cuts, wouldn't credit agency seize on that and downgrade us just the same? >> absolutely. this is what we saw with debt ceiling last summer, we saw our credit rating go down. and if you want to talk about that, white house tapped tim geithner today, treasury secretary to head the fiscal talks, he is the one that said we should have a debt ceiling and got the bad debt deal last year, and we were down graded anyway. if it is a bad deal, which is is probably going to be because we have no time left. neil: word from dick carney at white house, for time being social security is not on
hike with fiscal cliff, president obamaments tax hikes on those making more than $2 theft thousand a year, that will affect their middle class that their job creat creators the nor be able to pay them. neil: the train has left that spending station. i should say that taxes will go up. leaving that aside. how do you make the argument that a deal by the end of the year, even if it is bad, is better than no deal, if ratings agents pounce on a crafty deal, let's say waded toward tax hikes not...
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Nov 28, 2012
11/12
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CSPAN
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if we do not protect those families from the fiscal cliff, they will see their annual taxes go up $2,000. it will be noticed. it should not happen. i hope the house will take up the president's challenge an invitation and pass the senate bill to protect families making less with one vote, they can avert the fiscal cliff for 98% of american families, at least when it comes to income taxes. it is necessary. we know what has happened over the last several decades. it is the worst it has been in almost 90 years. between 1980 and 2005, in the 25 year time period, more than 80% of the total increase in america's income went to the wealthiest. 90% has got to the top 1%, the median income of the middle class has declined. i could go on and give illustrations. i do not think i need to to this group. when we address the issue of revenue in taxes, i insist in every meeting i have been in that it needs to improve it for low income categories. that is the starting principle for those of us who are progressives. the second thing we must insist on is to protect the safety net for america. make no mista
if we do not protect those families from the fiscal cliff, they will see their annual taxes go up $2,000. it will be noticed. it should not happen. i hope the house will take up the president's challenge an invitation and pass the senate bill to protect families making less with one vote, they can avert the fiscal cliff for 98% of american families, at least when it comes to income taxes. it is necessary. we know what has happened over the last several decades. it is the worst it has been in...
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Nov 11, 2012
11/12
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they move a. >> moving ahead to the fiscal cliff. john boehner has reiterated that the newly elected house republican majority is opposed to raising tax rates. they're willing to accept new revenue under certain conditions. what is your reaction to that? them have signed? -- could that violate the pledge that most of them assigned to? >> if we had a recovery the strength of reagan's recovery, there would be 10 million more americans at work today. if we take reagan's path of less spending and regulation, he has a million more americans at work today than obama does. i would rather have his recovery and all the revenue that flows from that. if you grew 4% a year instead of 2%. the difference between growing from 4% instead of 2% is $5 trillion in additional revenue to the federal government. nobody is talking but raising taxes $5 trillion. why not focus to reduce rates, have lower taxes, it to get more growth. you actually net more additional revenue. >> it seems like john boehner is now willing to get that revenue not just from the e
they move a. >> moving ahead to the fiscal cliff. john boehner has reiterated that the newly elected house republican majority is opposed to raising tax rates. they're willing to accept new revenue under certain conditions. what is your reaction to that? them have signed? -- could that violate the pledge that most of them assigned to? >> if we had a recovery the strength of reagan's recovery, there would be 10 million more americans at work today. if we take reagan's path of less...
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Oct 21, 2012
10/12
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what's the fiscal cliff are the spending cuts and tax increases that will take effect at the end of the year unless congress and the president finds another way to reduce the deficit. about congressman chris van hollen made an interesting point where neither democrats or republicans want the spending cuts. he suggested they might find a way to substitute some other spending cuts and get rid of that while continuing to run the argument over whether to extend the tax cuts for the rich. >> and what to expect a ban on tax rates, tax reform, bush era tax cuts? >> "it is the great unknown. i think that mitt romney wins, he is going to have the momentum that will push it into 2013. and they do that anyway, even if obama wins. but this election, both sides agree. whoever wins is going to be able to say, i have the mandate. this is a central issue, we have to do my plan. if it is obama, that will put republicans in the house and a very difficult place. will split the conference. there will be quite an uproar. >> what about the tax cut holiday? people have benefited from not for the last two year
what's the fiscal cliff are the spending cuts and tax increases that will take effect at the end of the year unless congress and the president finds another way to reduce the deficit. about congressman chris van hollen made an interesting point where neither democrats or republicans want the spending cuts. he suggested they might find a way to substitute some other spending cuts and get rid of that while continuing to run the argument over whether to extend the tax cuts for the rich. >>...
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Nov 11, 2012
11/12
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falls over the fiscal cliff, 80% of house holds will see their taxes go up. so you would think republicans in congress who signed this pledge not to raise taxes would be tripping over themselves to solve the problem. but they can't. i'll go one on one with the biggest impediment to overcome in washington. back in 90 seconds. >>> the most immediate threat facing the united states is the fiscal cliff and the election results did nothing to change the balance of power that we have seen in washington in the last two years. a democratic president now reelected calling for taxes on the richest americans to rise. a republican-controlled house of representatives that opposes any increase in tax rates and a democratic senate caught in the middle. now, avoiding the fiscal cliff will require compromise, but there is no compromise possible when one side says they can't lose. everything has to be on the tab table. to succeed, all parties need to give something up for the greater good, but there's a problem. it's a big problem. almost all the republicans in congress have s
falls over the fiscal cliff, 80% of house holds will see their taxes go up. so you would think republicans in congress who signed this pledge not to raise taxes would be tripping over themselves to solve the problem. but they can't. i'll go one on one with the biggest impediment to overcome in washington. back in 90 seconds. >>> the most immediate threat facing the united states is the fiscal cliff and the election results did nothing to change the balance of power that we have seen in...
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Nov 15, 2012
11/12
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CNBC
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we are getting down to the brass tax on the fiscal cliff tomorrow. president obama and congressional leaders meet face to face with the clock ticking to new year's on the fiscal cliff. for nearly two years, the one plan that has gotten the most support among those outside of washington and even inside has been the simpson/bowles plan. the two, of course, chaired president obama's debt commission. two years ago when the plan was presented, it was all but ignored by those in power. joining me now, the two architects behind the plan, former republican senator alan simpson and former chief of staff for democratic president bill clinton erskine bowles. gentlemen, wonderful to have you on the program. i want to first get to this. have either of you or together both of you been asked to participate in any way in these fiscal cliff negotiations? >> i've talked to most of the members of the white house. i met over the last couple of days with what's called the gang of eight, four republican senators and four democrat senators. i'm going to update alan as soon
we are getting down to the brass tax on the fiscal cliff tomorrow. president obama and congressional leaders meet face to face with the clock ticking to new year's on the fiscal cliff. for nearly two years, the one plan that has gotten the most support among those outside of washington and even inside has been the simpson/bowles plan. the two, of course, chaired president obama's debt commission. two years ago when the plan was presented, it was all but ignored by those in power. joining me...
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Dec 17, 2012
12/12
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as we get closer to the fiscal cliff scenario, will some of the people who signed on to no new taxes have to concede and agree to revenue increases in the form of higher tax rates? >> well, obviously, the president is trying to drive in that direction. the republicans have some leverage as well. two years ago, obama said he didn't want to hurt the economy, so he didn't want to raise rates on anyone. evidently that his job is secure, he's less interested in everybody else's job, so he is interested in raising top rates, capital gains taxes, subchatter "s" corporation taxes. although that's going to be awfully rough on the economy if he pulls the trigger on that. there are also a series of fights where republicans have more leverage than they do early january. that is the debt ceiling and there the republicans have announced ahead of time the boehner rule remains in place. obama wants a trillion dollars in debt ceiling increase and he's planning on having $8 trillion in higher debt over the next decade, he has to pay for it with spending cuts of equal amounts. the republicans could req
as we get closer to the fiscal cliff scenario, will some of the people who signed on to no new taxes have to concede and agree to revenue increases in the form of higher tax rates? >> well, obviously, the president is trying to drive in that direction. the republicans have some leverage as well. two years ago, obama said he didn't want to hurt the economy, so he didn't want to raise rates on anyone. evidently that his job is secure, he's less interested in everybody else's job, so he is...
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Nov 28, 2012
11/12
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compies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here is why. the contention that rich people willtop hiring is nonsense. we already know that more than a million americans to employ people and paying there taxes through ere individual income-tax. according to the heritage foundation, the amount their taxes would rise would be equivalent to one employee salary. one person there would not hire. we will what is more, rinsed and young says these tax hikes would kill 710,000 jobs. buffett also says that rich people will stop investing. again, nonsense. when you tax something usually get less of it, like
compies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here is...
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Nov 10, 2012
11/12
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CNNW
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cuts and tax increases. you look at the fiscal cliff. that is $7 trillion in ten years with no thought, no nuance, no kind of strategy about what's the best for america. >> it's a sledgehammer. >> it's a big, dull hatchet when we need a sexual pep a a bunch of surgeons. that's the problem here. they need -- going off the fiscal cliff, and it is popular now to say maybe we should go off for a while -- >> that is gaining popularity. stephen moore, you and david have really spent a lot of time on this. your approaches to this are a little more certain. a lot more surgical. isn't that problem though, stephen? as david said, went around the country and talked to people. i found the same thing when i was on the cnn express on that bus trip. people understand what this means. they understand that we have to cut back on our spending. they are concerned about the lack of sophistication with which washington is handling this. >> yeah, but when? look, i get so sick of it. everybody says we have to cut spending. even my good friend david walker who
cuts and tax increases. you look at the fiscal cliff. that is $7 trillion in ten years with no thought, no nuance, no kind of strategy about what's the best for america. >> it's a sledgehammer. >> it's a big, dull hatchet when we need a sexual pep a a bunch of surgeons. that's the problem here. they need -- going off the fiscal cliff, and it is popular now to say maybe we should go off for a while -- >> that is gaining popularity. stephen moore, you and david have really spent...
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Nov 29, 2012
11/12
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cliff, taxes, except. >> can we say bring in on our make my day? the president gave her such a strong endorsement. it would be amazing if he backed off now and did not nominate her. that would almost say that he has no confidence ii her. i think that the odds are -- no one knows what he will do. the odds are that he will go and do it. >> i think he had to support her like that because she knows too much. he has to make it sound like he is behind her nomination and then ihave been in the white house. the way this works, somebody higher upgoes to mass arrests and says, it's not going to work. would give you the job. >> suggeted he take care with the dnc. lou: setup that was one of the better comments. >> hillary clinton today saying she was doing a great job. >> absolutely. i cannot remember the expression . protests and egypt continue for a six the day. lou: and still in power showing no sign, at least obvious sign that he is goingo weaken and allow his new-found powers to dissipate separately. what is your reaction? >> my reaction is that he drew c
cliff, taxes, except. >> can we say bring in on our make my day? the president gave her such a strong endorsement. it would be amazing if he backed off now and did not nominate her. that would almost say that he has no confidence ii her. i think that the odds are -- no one knows what he will do. the odds are that he will go and do it. >> i think he had to support her like that because she knows too much. he has to make it sound like he is behind her nomination and then ihave been in...
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. >> stephen: oh, yeah, the fiscal cliff not to be confuse withed with the financial glory hole. unless congress comes up with a deficit reduction deal on january 1 there will be a trillion dollars in automatic spending cuts and the bush tax cuts expire which the congressional budget office says together could cause another recession. our only hope is that democrats and republicans in congress work together to find a compromise on tax cuts. in other words, we're all going to die. [ laughter ] now last week the democrats made the first move until this game fiscal chicken. >> the democratically-controlled senate passed a democratic bill renewing the tax cuts but only for people earning less than $250,000. >> the senate has approved a democratic tax plan that includes higher rates for high earners. >> stephen: wait, a second did they say the democrats passed a democratic plan? that can't be right. wait a second is this some kind of dream? let me check my totem. hold on one second. it's real evidently. evidently it's real. the problem is, house republicans are not going to vote for t
. >> stephen: oh, yeah, the fiscal cliff not to be confuse withed with the financial glory hole. unless congress comes up with a deficit reduction deal on january 1 there will be a trillion dollars in automatic spending cuts and the bush tax cuts expire which the congressional budget office says together could cause another recession. our only hope is that democrats and republicans in congress work together to find a compromise on tax cuts. in other words, we're all going to die. [...
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Nov 21, 2012
11/12
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ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the fed's role in the fiscal cliff negotiations is to communicate. >> tell the world and the individuals in the political establishment that they have to help get their act together or we have a problem, and that notion of preaching from the pulpit that he has is very fundamental. >> susie: is there another role or more of a role for the fe
ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will...
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Nov 18, 2012
11/12
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the former fed chairman speaks to me about the fiscal cliff, the bush tax cuts and why he would let the u.s. flip into a recession to solve america's long-term debt problems. a rare interview with alan greenspan up next. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. well, having a ton of locations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. >>> alan greenspan had a front row seat to some of the biggest events in the last 20 years. when he was put in as chair, he led the central bank in the central economy through good times and bad. now six years after he left the job, his successor ben bernanke is warning of the danger of plunging over the fiscal cliff. i've been warning you of t
the former fed chairman speaks to me about the fiscal cliff, the bush tax cuts and why he would let the u.s. flip into a recession to solve america's long-term debt problems. a rare interview with alan greenspan up next. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally...
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Nov 20, 2012
11/12
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republicans have their backs up against the fiscal cliff with these tax cuts expiring. j.d. can explain to me a plausible scenario under which republicans can simply stand pat and get exactly >> they'll kick the can down the road and hope to get actual tax reform and entitlement reform. i don't know. if president obama didn't think about entitlement reform after going to the center, why would he think about it after winning a re-election? i'm not optimistic on genuine spending cuts and entitlement reform. >> no, which is why i don't think we get a deal by the end of the year. >> uh-oh. >> now i'm changing my mind. i see everybody digging in. i'm recognizing we're back to ideology. so no deal. over the fiscal cliff. recession. let's get ready for it. >> gentlemen, thank you both. such a happy topic. happy thanksgiving. our interview with barney frank told tus will come in stages. they'll figure out spending then the taxes. >> president will never do spending first. >> we'll see. the markets down 25, was down 94 at the low of the day. we've come off the lows as we head toward
republicans have their backs up against the fiscal cliff with these tax cuts expiring. j.d. can explain to me a plausible scenario under which republicans can simply stand pat and get exactly >> they'll kick the can down the road and hope to get actual tax reform and entitlement reform. i don't know. if president obama didn't think about entitlement reform after going to the center, why would he think about it after winning a re-election? i'm not optimistic on genuine spending cuts and...
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Dec 11, 2012
12/12
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CURRENT
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david, i want to drill down on even over this past weekend we heard the fiscal cliff is a cliff. no parachute. bad things happen if we go over it. i have never been persuaded of that. the payroll tax is likely to go up either way. the taxes in the healthcare bill will kickback in no matter what. sequestration could be remedied. is it in your view a slope, a cliff, what is the metaphor, and is there hysteria attached to this that is excessive? >> cliff is a problematic metaphor because it is not like the debt ceiling. it's not even like the government shutdown. you don't necessarily have an enormous market reaction. this is not like the country defaulting on its debt. but it's serious for two reasons. we don't know what the reaction could be. there it is a chance that it could spook the markets. the second thing, the combine pieces of this passage is a combined 4% of the gdp. if they went into affect and remained in affect not just for a couple of weeks but for the full year it's hard to see how the economy avoids a recession next year. it's not guaranteed but it's more than enoug
david, i want to drill down on even over this past weekend we heard the fiscal cliff is a cliff. no parachute. bad things happen if we go over it. i have never been persuaded of that. the payroll tax is likely to go up either way. the taxes in the healthcare bill will kickback in no matter what. sequestration could be remedied. is it in your view a slope, a cliff, what is the metaphor, and is there hysteria attached to this that is excessive? >> cliff is a problematic metaphor because it...
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Nov 17, 2012
11/12
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. >> you don't want taxes on the troich go up. >> right. >> compared to the risk of a fiscal cliff, do you think republicans in the house will look at that and say we don't want to incur the wrath of the american people if we go over this fiscal cliff? >> look, mohammed may be right about the politics of this. what i want to talk about is the economics of it. i'm saying it's insane. it is so dangerous to be talking about -- i mean explain this to me. how do you raise taxes on businesses and it frees up more jobs. >> it is really insane to go from 36% to 39.6%? i would say going from 36% to 59.6%. i'm not an economists. i'm just saying is that really insane? might you have heard in the president's comments in the last week the possibility of compromise? you know, he stopped talking about this 39.6%. i don't know if i'm the only one who noticed this. >> what we want is do is lower our tax rates to be more competitive. i don't see any economic wisdom in it. i covered this in the editorial in the "wall street journal" this week. the period is when the economy has really grown is when we've
. >> you don't want taxes on the troich go up. >> right. >> compared to the risk of a fiscal cliff, do you think republicans in the house will look at that and say we don't want to incur the wrath of the american people if we go over this fiscal cliff? >> look, mohammed may be right about the politics of this. what i want to talk about is the economics of it. i'm saying it's insane. it is so dangerous to be talking about -- i mean explain this to me. how do you raise...
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Nov 28, 2012
11/12
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hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners on tuesday to talk about the effect on their companies from taxes and other charges. right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. and last night on hardball, former republican senator alan simpson gave his thoughts on the fiscal cliff and failure of lawmakers to reach an agreement. p. >> they love their party more than they love their country. how it we get to that point, don't ask me, but the whole business of reform and money in the campaign and beat up the guy, and it's not a case of who wins. it's you want to be sure somebody loses. and i say to people whether it's grover norquist or whatever, lord's sake, if you can't step up to the plate, what can happen to you? they can't murder you, they can't burn your house. the only thing they can do is defeat for you re-election by throwing some coo-coo from the left or right on y
hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners on tuesday to talk about the effect on their companies from taxes and other charges. right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. and last night on hardball, former republican senator alan simpson gave his thoughts on the fiscal cliff and failure of lawmakers to reach an agreement....
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Dec 3, 2012
12/12
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the way you get massive tax increases, $5 trillion tax increases, is if you go over the fiscal cliff. what the president has said, let's just ask higher income individuals to contribute a little more to reduce our deficit to prevent that from happening. the president has taken a balanced approach. look, we already entered into $1 trillion in cuts which we'll have to enforce and implement over the next 10 years, including, by the way, cuts in defense. you mentioned defense cuts as part of the clinton deal. >> that was 1993. >> we did the first half of the clinton deal as part of the budget control act. we're going to do $1 trillion in cuts. as secretary geithner pointed out, the president's budget contains additional cuts. and i don't think people recognize this. the president's budget over the next 10 years has more additional savings in medicare than the republican ryan budget over the next 10 years. let's see their plan. the reality is, they attack the president viciously, claiming he cut medicare by $716 billion. what they wanted to do was to add that $716 billion back into medicar
the way you get massive tax increases, $5 trillion tax increases, is if you go over the fiscal cliff. what the president has said, let's just ask higher income individuals to contribute a little more to reduce our deficit to prevent that from happening. the president has taken a balanced approach. look, we already entered into $1 trillion in cuts which we'll have to enforce and implement over the next 10 years, including, by the way, cuts in defense. you mentioned defense cuts as part of the...
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Dec 18, 2012
12/12
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>> a plan b on the fiscal cliff on taxes, stuart. this is coming from house speaker john boehner who is addressing republicans right now. we have a source in the room telling us that republicans will vote on a plan b in the house. likely this week. it will allow americans to avoid higher tax rates starting on january 1st. this deals with just the tax portion here on different rates. so, the threshold that republicans want is a million dollars. you wouldn't get a tax hike on your rates if you earned less than 1 million dollars annually. so that's a plan b that republicans vote on on the house. house speaker john boehner still wants a grand bargain with president obama. the two sides were drawing closer, last night their deal gave some discouragement to house speaker john boehner, so he's putting a second plan on the table and prefers president obama and they'll take it to-- >> it sounds like speaker boehner cannot sell the deal he's approaching with president obama to his own house members, so he's going to plan b the concentrate only
>> a plan b on the fiscal cliff on taxes, stuart. this is coming from house speaker john boehner who is addressing republicans right now. we have a source in the room telling us that republicans will vote on a plan b in the house. likely this week. it will allow americans to avoid higher tax rates starting on january 1st. this deals with just the tax portion here on different rates. so, the threshold that republicans want is a million dollars. you wouldn't get a tax hike on your rates if...
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Dec 9, 2012
12/12
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are we as some argue, maybing too much of the fiscal cliff deadline? would it really be a catastrophe to hit it, go over it, maybe for a little while. joining me now from london, richard quest, the host of quest means business on cnn international. i got 60 seconds. i'll go first. could be catastrophic if congress doesn't get a deal by january 1st, the government will try to soften the blow of spending cuts and tax increases. they could delay the with holdings that people pay or they could tell agencies to accelerate the spending at the new year to mitigate the cuts that are coming, but all of that assumes that congress will actually do something. otherwise, it could be catastrophic. i say don't count on it. if a deal can't be cut in the next three weeks, why assume they'll cut one in january? this is a lame duck congress. they're waiting for a new congress to be sworn in. think back to the debt ceiling when nothing got done. think back to the discussions about t.a.r.p. the bottom line is i am not convinced they will do the things to avoid the catastro
are we as some argue, maybing too much of the fiscal cliff deadline? would it really be a catastrophe to hit it, go over it, maybe for a little while. joining me now from london, richard quest, the host of quest means business on cnn international. i got 60 seconds. i'll go first. could be catastrophic if congress doesn't get a deal by january 1st, the government will try to soften the blow of spending cuts and tax increases. they could delay the with holdings that people pay or they could tell...
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Dec 21, 2012
12/12
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with about 11 days to go before the so-called fiscal cliff, americans facing the biggest tax hike in history if the president and congress don't strike a deal did with talks now stalled, house speaker boehner right now zeroing in on the so-called fallback plan. chief congressional correspondent joining us with the report. >> this has been a heavy lift with numerous groups urging republicans to vote against speaker boehner's plan b, but with the economy less than two weeks from the fiscal cliff, they're trying to avoid a massive tax hike for everybody. >> the house housel asked today to be up to the senate and house to ask. >> securing more republican support, the house is voting on a separate measure to cancel next year's pentagon cuts as part of sequestration by slashing domestic programs. that has upset some house democrats did speak out these bills are not a plan, they are a ploy. these are bills to nowhere. in a deeply cynical move, so cynical, i have decided to offer another bill to put off some of the sequester. >> while the process moves forward, boehner has not given up hope
with about 11 days to go before the so-called fiscal cliff, americans facing the biggest tax hike in history if the president and congress don't strike a deal did with talks now stalled, house speaker boehner right now zeroing in on the so-called fallback plan. chief congressional correspondent joining us with the report. >> this has been a heavy lift with numerous groups urging republicans to vote against speaker boehner's plan b, but with the economy less than two weeks from the fiscal...
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Dec 8, 2012
12/12
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mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big gains. the investment side of the equation not showing big gains. that shows delays in hiring and defer meant by the fiscal cliff. it's clear that we are at a fork in the road. we can choose to enhance our role in the global economy by taking the situation and making responsible decisions or by deliberately slitting our own economic throats we'll lose what credibility we have left. i think we are at the fork in the road now. >> john, instilling confidence would be a big role for washington. you know, there isn't a great deal of confidence in washington. there is less in congress. at this
mostly because of fiscal cliff concerns and higher tax concerns. that said, i agree with ken. this is a larger issue that nobody is willing to talk about, the third rail of american politics -- entitlements. we can't raise taxes enough to compensate for what we need in our democrat kbrafk situation on entitlements. these are fundamental issues. it's important to understand that not only have we seen investment decline and the composition of employment. the manufacturing sector not showing big...
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Dec 27, 2012
12/12
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coming up, forget the fiscal cliff. a slew of new taxes coming your way in less than week. something congress and the president talked about years ago. i will break it down ask. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, m good. you got it? yes. rates for us and them -- now that's progressive. call or click today. gerri: it will be a new year pretty soon. we will get new taxes. not just for wealthy americans either. millions of americans will face obamacare tax hikes in 2013. especially the middle class. it will likely affect the way you receive care in the way you buy health care. care to explain is doctor mitchell brooks. doctor, welcome back to the show. it's always good to have you here. you say that it's really a three card monte. that is what the american public is getting the obamacare. what do you mean? >>
coming up, forget the fiscal cliff. a slew of new taxes coming your way in less than week. something congress and the president talked about years ago. i will break it down ask. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, m good. you...
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Dec 21, 2012
12/12
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cliff leaders say they tried toax hikr avoid a massive tax hike for everybody. >> it will be a to the democrats in the white house. >> it would extend the bush tax cuts below $1 million also the house votes on a separate measure to cancel the pentagon cuts with sequestration that has upset house democrats. >> these are not a plan. it is a ploy. they are bills to know where. and a deeply cynical move, republicans decide toill o offer another bill to put off some of the sequester.oehner >> speaker boehner has notnd b given up on a grand bargain. >> and our respective rolesspecv we have ea responsibility tor work together to get results.pect it ll conti i expect we will continue to work together.he top >> he did not sound issound so optimistic. threpubl determined to lead off the cliff we will not take the enmiddle-class with him. >> 53 senate democrats voted for a similar plan to years ago for a republican suggest the senate should also consider a plan be. >> that was two years ago. republicans should have taken of the offer then you cannot turn the clock back two years. if ttey wanted
cliff leaders say they tried toax hikr avoid a massive tax hike for everybody. >> it will be a to the democrats in the white house. >> it would extend the bush tax cuts below $1 million also the house votes on a separate measure to cancel the pentagon cuts with sequestration that has upset house democrats. >> these are not a plan. it is a ploy. they are bills to know where. and a deeply cynical move, republicans decide toill o offer another bill to put off some of the...
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Nov 27, 2012
11/12
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and the fiscal cliff. the white house today released a report from the council of economic advisers. that report claims that if republican lawmakers don't accept the president's fiscal proposals they would be responsible for destroying christmas for the nation's retail sector. the national retail federation is forecasting that holiday sales will grow. if congress does not act on the president's plan to extend tax cuts for the middle-class and jobs in our economy at the most important time of the year for retail stores. as the president uses similar scare tactics to bully republicans into a deal press secretary jay carney today made clear where the president himself simply refuses to compromise. >> there are issues that need to be resolved that we have been very clear about, both the presence interest and willingness to compromise, but also his clear insistence that he will not sign an extension of bush era tax cuts for the top 2% lou: a congressional budget office analysis shows that allowing the bush tax
and the fiscal cliff. the white house today released a report from the council of economic advisers. that report claims that if republican lawmakers don't accept the president's fiscal proposals they would be responsible for destroying christmas for the nation's retail sector. the national retail federation is forecasting that holiday sales will grow. if congress does not act on the president's plan to extend tax cuts for the middle-class and jobs in our economy at the most important time of...
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Dec 22, 2012
12/12
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the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes that. every democrat. every republican. so there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least let's agree right now on what we already agree on. let's get that done. >> the house of representatives now stands in recess until thursday, december 27th. just four days before we step off that fiscal curb. this week, the office of management and budget issued guidance to government agencies outlining the potential impact of the $1.2 trillion in budget cuts, which will start to take effect on january first, if congress does not act. joining me now is ezra
the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes...
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Dec 8, 2012
12/12
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no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, bain got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if east serious, to come back to us with a counteroffer. >> not a no
no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a...
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Dec 1, 2012
12/12
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the actual definition of base broadening tax reform that is emerging in the ongoing fiscal cliff negotiation says tax reform that limits itemized deductions among high taxpayers. that is a very boring sentence. do not be bored. this is important. here is what it actually means. as former budget director pointed out in a bloomberg column, 90% of those itemized destructions for the rich is three categories. deductions paid for taxes paid, mostly state and local. home mortgage interest and charitable interest. look at each in turn. first, home mortgage deduction. most economists will tell you cutting the home mortgage deduction particularly for rich people is a good idea. no real reason the tax code should subsidize the purchase of more mcmansions. i'm not mar particularly worried about that. second, state and local taxes paid. that's just a tax shift. instead of raising taxes on you by simply raising them on you, we raise them on you by making our state and local tax bill higher. it'll pound on high tax cities on states which means it'll hit the cities and states by making them less attractive
the actual definition of base broadening tax reform that is emerging in the ongoing fiscal cliff negotiation says tax reform that limits itemized deductions among high taxpayers. that is a very boring sentence. do not be bored. this is important. here is what it actually means. as former budget director pointed out in a bloomberg column, 90% of those itemized destructions for the rich is three categories. deductions paid for taxes paid, mostly state and local. home mortgage interest and...
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Nov 9, 2012
11/12
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i reject the idea that the only way to aavoid the fiscal cliff is to raise taxes. without a bold idea we will not be back on the right track. we're be at the edge of the cliff in a matter of years. i'm up not interested in short-term political deals. we need long-term solutions. >> we absolutelies need long-term solutions, but the president was clear in terms of what he wanted. you know what i hope to see from speaker boehner this year? i hope he has the courage to move forward and say not all of my caucus will agree. let me take the more moderate members of my caucus and strike a deal with the democrats. >> what are the odds of that happening. no disrespect in that question but what is the likelihood? do you believe that you would hear something like that? >> let me tell you, i do think there's a likelihood from that. what i read about the conference call that happened in the republican caucus is members of the caucus said you know what? we have to give the speaker some room. last year -- or rather this year they were just extreme in terms of they all had to jump
i reject the idea that the only way to aavoid the fiscal cliff is to raise taxes. without a bold idea we will not be back on the right track. we're be at the edge of the cliff in a matter of years. i'm up not interested in short-term political deals. we need long-term solutions. >> we absolutelies need long-term solutions, but the president was clear in terms of what he wanted. you know what i hope to see from speaker boehner this year? i hope he has the courage to move forward and say...
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Jun 21, 2012
06/12
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pledge means for the fiscal cliff negotiations later this year. now the blitz he's doing is a sign of weakness. his relevance has been openly questioned for the first time lately. and he's in full damage control mode. well, he has an uphill climb. more and more republicans are beginning to decide they don't care what he thinks. more and more republicans are realizing that to solve our nation's fiscal problems they cannot be part of grover norquist's army. a couple of weeks ago, lindsay graham said he had crossed the rubicon on the need for revenues and deficit deal and urged his fellow republicans to join him in putting the need for a grand bargain ahead of the pledge. tom coburn never one to shy away from a fight with norquist said this week in an interview quote, the well to do are okay paying some more tax as long as the taxes are going to pay down the debt not going go grow the government, unquote. on those strong words from coburn national review said, that kind of talk may not please grover norquist, the president of americans for tax reform
pledge means for the fiscal cliff negotiations later this year. now the blitz he's doing is a sign of weakness. his relevance has been openly questioned for the first time lately. and he's in full damage control mode. well, he has an uphill climb. more and more republicans are beginning to decide they don't care what he thinks. more and more republicans are realizing that to solve our nation's fiscal problems they cannot be part of grover norquist's army. a couple of weeks ago, lindsay graham...